IMOS - Creating an Estimate

In the Veson IMOS Platform, follow the below step-by-step instructions to create an Estimate.

Step 1: Go to the Estimates Workspace

To create a new Estimate:

Navigate to the Chartering module from the main menu.
Click Estimates.

Step 2: Start in Estimate Column View

The Estimate appears in column view by default, as part of a Worksheet.

For routing options, the Estimate details view must be opened. To go to Estimate details view, click the ID of an Estimate column.

Click Untitled (when unsaved) or the name of the Worksheet in the details view to switch back to the column view.

Step 3: Select a Vessel

Start typing the Vessel name or select it from the drop-down menu.

You can add new vessels in this field as well. A prompt will confirm the vessel does not already exist in IMOS, and ask if you want to add this vessel to the Veson IMOS Platform.

Step 4: Update Vessel-Related Details

Update vessel-related details:

Add Daily Cost
Define the default Speed Ballast/Laden.
Insert a Ballast Port.
Insert a Commence Date, if needed.

Step 5: Enter Ballasting Cost Details

Click the Ballast Port to access Ballasting Cost Details. This form shows how much it costs from the last port vessel called or the specified open position for the vessel to reach the first load port.

Step 6: Open Vessel Details

Open Vessel Details by clicking the VESSEL NAME link.

Vessel master data is defined in the Data Center, which is covered in another course.

The most important parts of Vessel details for a voyage estimate are the bunker Consumption Tables.

Each vessel will have the following bunker consumptions defined:

Sea Consumption (Ballast) at x Speed: Daily metric tons (MT) of bunkers consumed when the vessel is empty, at a certain speed
Sea Consumption (Laden) at x Speed: Daily MT of bunkers consumed when the vessel has cargo on board, at a certain speed
Port Consumption (Loading): Daily MT of bunkers consumed while the vessel is loading
Port Consumption (Discharging): Daily MT of bunkers consumed while the vessel is discharging
Port Consumption (Idle): Daily MT of bunkers consumed while the vessel is not doing cargo operations

Other key vessel information:

Capacity: The maximum volume of cargo the vessel can accommodate (in m3, feet, or Bbl)
Deadweight Tonnage (DWT) At Summer: A measure of a vessel's weight carrying capacity, not including the empty weight of the ship
Constants: A standard weight on the vessel, which must be taken into consideration when calculating the cargo quantity that the vessel can carry

Step 7: Enter Total Vars

Insert constants in Total Vars and then close the Vessel Details form.

Step 8: Enter Bunker Prices

In the Estimate, enter bunker prices for this voyage. If this vessel has been used in the Veson IMOS Platform before, the last bunker ROB price from her last voyage will be automatically taken here.

Step 9: Add Any New Cargoes

In the Estimate, enter new cargo information if the cargo has not been created in the Veson IMOS Platform:

Select a Cargo or Cargo Group name.
Enter the Charter Party Quantity (C/P Qty) and select the Unit.
Select an Option Percentage (Opt %) and Type (Opt Type).
Select a Freight Type (T) and freight rate (Frt Rate or Lumpsum).
Enter Commission Percentage (Comm%).

Step 10: Add Any Existing Cargoes

Go to Estimate details view.

To add an already existing cargo, in the Cargoes grid, click Add New Row.

Step 11: Enter Load and Discharge Port Details

Return to Estimate column view.

Enter load and discharge ports.

When you add a port, the Itinerary Details form appears, so that you can add relevant details:

Port Expenses
L/D Rate (or port days)
Terms
Extra Port Days
Any additional information as needed

Step 12: Enter Freight and Commission Rates

Enter the Freight Type, Freight Rate, and Commission % details.

Step 13: Update CP Terms Details

Go to Estimate details view.

Right-click each Cargo line and then click CP Terms Details to insert additional CP details including load and discharge port and commissions.

Note: If you imported a cargo from the cargo book, all the CP Terms Details will be from the cargo.

Step 14: Add Broker and/or Address Commission

In CP Terms Details, add any broker and/or address commission.

In the Broker column, enter the broker name or XADDCOM for address commission.

Step 15: Build the Estimate Itinerary

In CP Terms Details, add a row for each port.

Click Add New Row.
Specify the port function (F).
Insert additional port details.
- Dem: Demurrage Days. The rate is specified in the CP Terms Details screen for each cargo. Right click each cargo line to access this screen.
- OExp$: Dollar per ton liner expenses

Step 16: Add Port Expenses

The Chartering team may require information from the system to know what is the estimated port expense at a certain port for this particular type of vessel.

The Port Expense Search function is available by right-clicking the port in the Itinerary. Expenses can be filtered by port activity type, vessel size, cargo type, etc.

Note: The port expense history search is only from the current the Veson IMOS Platform database, based on the existing port expenses invoices from existing voyages.

Step 17: Add Any Additional Cargoes and Select the Shortest Itinerary

If there are more than one cargoes to be added to the voyage estimate, repeat steps 10 and 12–15 to add multiple cargoes to the voyage.

Use the Shortest Itinerary menu option to rearrange the itinerary for the shortest route for all cargoes.

Step 18: Adjust the Estimate Itinerary

Shortest Itinerary only gives you the shortest itinerary, but it might not be the itinerary you want in reality.

You can manually plan the Itinerary on the Estimate Port/Date tab, where you have the options to:

Make any changes to the itinerary: Right-click to Delete Port or Insert Port. Move Up, Move Down, or Move To a certain position to change the sequence.
Change the speed setting on a voyage leg.
Select the correct port function (F).
Change the weather factor (WF%) on a voyage leg.
Insert additional Idle days.
Insert additional port days (PDays).

Note: If more than one cargo is loaded at the same port, these operations are shown multiple times on the Estimate Cargo, Draft/Restrictions, and Port/Date tabs but are only displayed once in the Port/Date Group tab.

Step 19: Visualize Your Estimate in the Map

To visualize and optimize your itinerary, you may open the Estimate map view.

Notes:

The following steps are to optimize the itinerary on the map. All changes you make on the map will update your Estimate itinerary.
The Veson IMOS Platform calculates distances from berth to berth and not pilot station to pilot station. Insert pilot stations in itinerary as required.

Step 20: Optimize Routing for ECA, Piracy, and Weather

Select alternative routing as necessary:

Set ECA routing as necessary.
Select Piracy routing as necessary.
Drag-and-drop additional ports as needed.
Note: The best way to move ports is to drag-and-drop the port icons.
Observe Weather forecasts.
Scroll down and observe changes to the P&L in Estimate column view.
Return to the Estimate details view by clicking the Estimate ID.

Note: The Veson IMOS Platform does not prompt routing options, but uses the shortest route by default.

Step 21: Update Passing Points/Canals

Right-click passing points/canals to change Routing.

The Veson IMOS Platform automatically adds passing points (function P; e.g., the English Channel, when entering an ECA zone) and canal passages (function I).

It is not possible to enter Port Activities/Days to P ports, but it is possible to enter them for I ports. To add days and port expenses to passages (e.g., SKAW), switch the port function from P to I.

Step 22: Open the Bunker Planning Form

After planning the voyage itinerary, the next step is to plan for bunkers. On the Estimate menu, click Bunker Planning.

Step 23: Create a Bunker Plan

For each available bunker type, ensure the initial quantity and price are correct.
Insert bunkering ports in the itinerary as necessary with port function F. Bunker liftings can also be registered against load (L), discharge (D), and Canal (I) ports.
Note: Remember to insert extra port days (XPD) in the itinerary for bunkering time (0.5 days normally).
Plan for bunker liftings by entering the intended lifting quantity and estimated bunker price at the time of bunkering. Select the "Transfer Received When Fixing" tick box before scheduling the voyage if you want the liftings to flow through to the voyage.
Close the form when planning is completed. The P&L figures are updated accordingly.

Note: You can make use of the .TDEFAULT estimate to always have the "Transfer Received When Fixing" tick box selected by default.

Step 24: Add Any Waiting Days

If you picked up existing cargo to try to fit on this vessel, the laycan of the cargo and the open date of the vessel might not exactly match. Sometimes, the vessel has to wait for the cargo at port if the laycan starts late. You can use the Wait for Laycan menu option to add any waiting days to the itinerary (if laycan is entered).

Step 25: If Needed, Run the Reposition Analysis

Use the Reposition Analysis available from the menu and insert the reposition port in the estimate if required. A reposition port is needed if the expected next open position of the vessel is not the same as the last discharge port.

Step 26: Set Up Max Lift Calculation

It is important to know a vessel's maximum cargo intake because, many times, the owner wants to load as much as they can to maximize their profit. The Veson IMOS Platform calculates the possible maximum loading quantity within the safety margin, known as Max Lift Calculation.

In the Itinerary section, click the Draft/Restrictions tab.
Enter Drafts, water density (Salinity), and stowage factor.
Make sure vessel details are correctly entered: Check warnings if Grain/Bale Capacity is missing from the vessel details. If so, click the VESSEL NAME link to insert missing information. To ensure the calculation is correct, click the Convert button to change from Ft to M3.
Note: By default, the Veson IMOS Platform calculates freight basis the L/D quantity.

Step 27: Check Max Lift Calculation

To check Max Lift calculation, hover over the MaxLift field; the full calculation is visible.

If the Max Lift is then to be used for the voyage, this can be set by selecting the Auto Calc. By Max Lift Qty menu option.

Note: Do not use Auto Calc. By Max Lift Qty when starting calculation.

Step 28: Open the Voyage Other Revenues/Expenses Form

If there are other miscellaneous charges or revenues you can anticipate from the voyage (like survey cost, armed guards cost if you are passing through piracy zones, insurance cost, etc.), you can access Voyage Estimate Other Revenues/Expenses from the P&L panel; click the Misc. Revenue or Misc. Expenses link.

Step 29: Enter Other Revenues and Expenses

Select the expense or revenue Code, Type, Currency, and Amount in line with the type as a minimum.
More expenses may be inserted by adding new rows.

Step 30: Run Other Estimate Analyses

Use Analysis to optimize voyage planning:

Freight Sensitivity Analysis
Speed Comparison Analysis: Click Generate From Vessel Speeds.
Bunker Sensitivity Analysis

Note: Avoid using the Speed Sensitivity Analysis as it is linear, theoretical data and is not based on vessel-configured data.

Step 31: Save the Estimate and Address Validation Warnings

Your voyage estimate is almost completed! Save your work and then carefully read any system-provided warnings. If necessary, click X and return to the Estimate to fix it. Otherwise, click OK to continue.